[Robbb]

Originally Posted by Justputt

I did do mine own, but I found life too busy to stay on top of it. As a result, I missed some timing to bail out or jump in, as result of that I lost a bunch for missed making money just camped out in big "safe" funds. I use mostly Fidelity now, because I cannot watch things as closely as someone that has it as their all-day everyday job. I would have substantially more had I made the change years ago. Everyone can make money when times are good, but then there's 1987, 2008-9, and 2020.

Respectfully disagree, NO one knows when to get in or out, so the only option is to set your allocation and stay in. Remember the vast majority of times a monkey throwing a dart against a listing of stocks will beat the "professional analysts" 99% of the time. And that's just your average monkey.

[DAVES]

My view. We all know when you talk money, few speak truth and few know truth. Warren Buffet called the greatest stock picker has stated he does not often beat the S&P average and we are best off simply buying the S&P. Another option, Buffet like, you can buy shares of Berkshire Hathaway.
Things have changed. Used to be commissions were far higher. Information was not as easy to find and you would pay more if you did not buy round lots of 100 shares. Today, you can buy with no commission and you can buy partial shares.
Compared to the S&P. Truth, my brokerage statement prevents me from lying to myself. In ten years on a yearly basis I beat the s&p twice. Over the ten years the S&P BEAT ME.
MONEY is just a number. It is simply a tool of exchange. You spend money after TAXES and INFLATION is simply another TAX.
Woulda, shoulda, coulda. This is REALITY. There are no do overs.
Further REALITY. Buffet like, if I remember Jr High English has become an adverb. I recall reading Buffet lost 44 million on some trade. REALITY, Buffet Like, if I lost 44 million there would be a lot of people wondering why they were foolish enough to LEND ME that much money. It is perhaps interesting that Buffet called the greatest stock picker also makes mistakes. Returns in the stock market should be higher to justify the RISK.
I read a lot and expect, no demand it makes sense. It seems we no longer middle aged are investing like we are younger than we are. Will it bite us? Where to hide? That too beats me.

[dewilson58]

Originally Posted by DAVES

My view. We all know when you talk money, few speak truth and few know truth. Warren Buffet called the greatest stock picker has stated he does not often beat the S&P average and we are best off simply buying the S&P.

Jus as a FYI...............

Mr. B does not pick stocks, he picks companies and management.

Also, since 1965 he has beaten the S&P 39 out of 58 times.......he often beats the S&P.

[DAVES]

Originally Posted by Robbb

Respectfully disagree, NO one knows when to get in or out, so the only option is to set your allocation and stay in. Remember the vast majority of times a monkey throwing a dart against a listing of stocks will beat the "professional analysts" 99% of the time. And that's just your average monkey.

Of course that is so. Buffet like-Buffet has said stocks are the only thing that people do not buy when it is on sale. That is of course true but to buy stocks on sale you need to have CASH. Has changed recently. You can now get roughly 5% on almost zero risk money market funds. The dow has just turned negative for the year. Inflation first of all many do not understand the math. We are told it is 4%. It is 4% on top of previous numbers. If your top tax bracket is 30% and inflation is 4% you need to get 5.2% to be even. At 4%, rule of 72, in 18 years you will need two dollars to buy what one dollar buys today.

Is now a good time to buy or a shoulda sold time. That beats me.

[askcarl]

Originally Posted by huge-pigeons

My experience talking to these sort of firms/people, and what friends and family have shared with me on their experiences, I have no desire to go with these investment advisors.
Most of these investment advisors have 1 main goal, and that’s how can they make money. Your goal is the same, how can I make the most money on my investment dollars?

In my experience and a couple of friends experience, a few advisors wanted over $40,000-$60,000 per year to manage my/their investments. Which is a lot of money, but take that amount and extrapolate that for 10 years: that’s around $400,000 - $500,000 or more in fees alone. On top of those fees, you might have some funds that have high expenses or loads. OR worse, you could be talked into an annuity.

The most beneficial way to handle investments IMO is for you to learn how to manage your money yourself, or learn enough to know when an advisor is worth the money you are paying him.

To pay 40 to 60K a year at a 1% fee is a $4-6Million portfolio. I'll not cry for anyone in that horrible position this late in life.

[Topspinmo]

I need to find me good insider trader for advisor. They’re ones that have money to manipulate the market. Plus the always know when to sell.

[DAVES]

Originally Posted by dewilson58

Jus as a FYI...............

Mr. B does not pick stocks, he picks companies and management.

Also, since 1965 he has beaten the S&P 39 out of 58 times.......he often beats the S&P.

As it is said hindsight is always 20-20. Buffet is over 90 and his partner Munger is older than he is. A guy of 90 saying he invests long term does make me wonder. Buying and selling companies? Frankly beyond my experience. The largest sale I was ever involved in was 14 million dollars.

[DAVES]

Originally Posted by askcarl

To pay 40 to 60K a year at a 1% fee is a $4-6Million portfolio. I'll not cry for anyone in that horrible position this late in life.

This is probably not the right place to post such information. In terms of paying a 1% fee, I would check. If, an advisor is charging you 1% of your portfolio to put you into funds and etfs, it is on top of the management fee for the fund or the ETF. Some of the brokerages offer lower fees for the same fund if you have a larger balance. Vanguard makes it public and calls it Admiralty shares.
Fidelity offers the same exact funds with a different code on which a lower fee is charged they are offered to 401k plans.

[retiredguy123]

Originally Posted by DAVES

This is probably not the right place to post such information. In terms of paying a 1% fee, I would check. If, an advisor is charging you 1% of your portfolio to put you into funds and etfs, it is on top of the management fee for the fund or the ETF. Some of the brokerages offer lower fees for the same fund if you have a larger balance. Vanguard makes it public and calls it Admiralty shares.
Fidelity offers the same exact funds with a different code on which a lower fee is charged they are offered to 401k plans.

I only invest in mutual funds and I do not pay any advisor fees. But, if you are going to pay an advisor, I would suggest that you only pay a percentage fee on the funds where the advisor is actively buying and selling individual stocks. There is no reason to pay a percentage fee on money that is invested in bonds, mutual funds, or cash. I understand that Fidelity will allow you to exclude the money from the fee structure that is not being actively managed by an advisor.

[DAVES]

Originally Posted by PVR

I'm not sure where you are getting your information.
My broker has always made investments grow. I make way more than his fees. If I don't make money then he doesn't. Been with the same company over 30 years

Beware that is not so. If, I don't make money he doesn't. Unless he is a stock fund manager collecting a disclosed fee, he makes money on commissions when you buy of sell. A fund manager makes his or her management fee as a percentage of what is in the fund and they make money whether the fund goes up or down. If, the fund does well, more people put money in and so 1% of two million is far less than 1% of ten or 100 million. Funds have closed because the amount in the fund is to small to justify the work required, government required paperwork, accounting etc,

[DAVES]

Originally Posted by retiredguy123

I only invest in mutual funds and I do not pay any advisor fees. But, if you are going to pay an advisor, I would suggest that you only pay a percentage fee on the funds where the advisor is actively buying and selling individual stocks. There is no reason to pay a percentage fee on money that is invested in bonds, mutual funds, or cash. I understand that Fidelity will allow you to exclude the money from the fee structure that is not being actively managed by an advisor.

Far too complex to discuss here. In terms of bond funds,etfs you will find that they achieve above market returns by leveraging,borrowing against bonds they own to buy more bonds and buy buying lower than investment grade bonds.

Terms of paying an advisor. I do not either. Perhaps for some it is worth the fee to have someone besides themselves to blame.

Endless opportunities for free lunches. We went to ONE. I was truly interested. They handed out forms. They had roughly 30 people there. They asked stuff like ss# net worth where your money is. We got a free meal. If,I recall we even got a pen. I did not even give them my name.
As it is said you get notin for nothin. I've never gone to another.

[DAVES]

Originally Posted by Topspinmo

I need to find me good insider trader for advisor. They’re ones that have money to manipulate the market. Plus the always know when to sell.

A true story. I had a friend and a customer with a store just off Wall Street. His line was I don't usually do this but I like you. I just heard that the guy who pushed bottled water to make millions is now stating a company to sell table wine. The stock will open tomorrow at four bucks a share. I got side tracked and didn't place an order. Another friend worked for a brokerage. I told him to buy me a hundred shares as long as it was less than 4. 50 a share. I bought 800 shares at 2 dollars each. They launched the product in Florida. I asked my father-in-law to try some. Review-it is awful.
After a year or so we got memos that the other partner is a crook. Long story short. That is how 1600 turned to zero and a tax loss.

[Sully2023]

Originally Posted by huge-pigeons

My experience talking to these sort of firms/people, and what friends and family have shared with me on their experiences, I have no desire to go with these investment advisors.
Most of these investment advisors have 1 main goal, and that’s how can they make money. Your goal is the same, how can I make the most money on my investment dollars?

In my experience and a couple of friends experience, a few advisors wanted over $40,000-$60,000 per year to manage my/their investments. Which is a lot of money, but take that amount and extrapolate that for 10 years: that’s around $400,000 - $500,000 or more in fees alone. On top of those fees, you might have some funds that have high expenses or loads. OR worse, you could be talked into an annuity.

The most beneficial way to handle investments IMO is for you to learn how to manage your money yourself, or learn enough to know when an advisor is worth the money you are paying him.

I used Fidelity and Fisher Investments in the past. I ended up moving my money back to Vanguard. Great mutual funds, low cost, it worked for 39 years for me. Not sure why I made the change and did full circle.

[Robbb]

Originally Posted by Sully2023

I used Fidelity and Fisher Investments in the past. I ended up moving my money back to Vanguard. Great mutual funds, low cost, it worked for 39 years for me. Not sure why I made the change and did full circle.

I did the same. Not to change topics but when does the investment club meet in the Villages. From many of the comments here I think I could learn something from them, and I consider myself a pretty well read investor.

[Stu from NYC]

Originally Posted by DAVES

As it is said hindsight is always 20-20. Buffet is over 90 and his partner Munger is older than he is. A guy of 90 saying he invests long term does make me wonder. Buying and selling companies? Frankly beyond my experience. The largest sale I was ever involved in was 14 million dollars.

Buffet and mundt have lots of smart people younger than themselves working for them. Suspect back office is now doing most of the work